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You May Be Able to Receive Benefits from this TransUnion Credit Reporting Agency Lawsuit


An estimated 160 million Americans may benefit from a recent class-action lawsuit against TransUnion credit reporting agency. To qualify, you must have had an open credit account such as a charge card, student loan, auto loan or mortgage at some time between January 1, 1987 and May 28, 2008.

TransUnion credit reporting agency

If you had a mortgage, car loan, student loan or charge card in the last 21 years, you're eligible to receive benefits.

The lawsuit originated in 1998 when TransUnion was accused of selling consumers' personal and financial data to marketers, which violates the Fair Credit Reporting Act. There have since been 16 class-action lawsuits filed against TransUnion, which are now combined into one national lawsuit.

TransUnion maintains they did nothing wrong and says they discontinued selling consumers' information in 2001. Still, they agreed to create a $75-million fund as a settlement, to compensate anyone who may have been impacted.

What Types of Benefits Can You Receive?

If you had any type of open line of credit in the past 21 years, you qualify to receive one of the following benefits from TransUnion:

TransUnion credit reporting agency

To register to receive benefits from the TransUnion settlement, visit

  1. Basic Service: Six months of free credit-monitoring service from TransUnion, and unlimited access to your TransUnion credit report and credit score (total retail value $59.75). If you opt for this option, you may also receive a cash payment from the settlement fund.

  2. Enhanced Service: Nine months of free credit-monitoring services, plus a mortgage simulator service that allows you to gauge your mortgage rate based on your credit score. You'll also receive access to your insurance score, which some insurance companies use to calculate your rate (total retail value $115.50). If you opt for this option, you will not receive a cash payment from the settlement.

Credit experts have pointed out that although the free services are useful, they do not show you your FICO score, which is the score most lenders look at when issuing credit. Instead, you'll be shown your TransUnion credit score. The difference between the two scores could range from 40-50 points.

If you determine that you're eligible and would like to register to receive benefits, visit the Web site: or call TransUnion's settlement number at (866) 416-3470.

Recommended Reading

10 Important Tips You Should Know About Credit Cards to Save Money, Time & Grief

10 Secret Strategies to Improve Your Credit Score

Sources June 16, 2008 June 30, 2008 June 29, 2008

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